Peru: access promotions and cashback for paying in Bitcoin

Peruvians can now pay and receive Bitcoin, with the option to convert it into soles. But that’s not all—users also get exclusive discounts and rewards for every sol spent on groceries, fast food, and travel.

“We offer users a small piece of the future of money: Bitcoin (BTC),” explained Federico Biskupovich, Operations Director at the crypto wallet Lemon, in an interview with La República.

LEARN MORE: Tokens, shitcoins, and memecoins: the $LIBRA case and why Bitcoin doesn’t have these problems

Encouraging Bitcoin adoption

The goal is to familiarize people with Bitcoin and encourage them to take their first step into this world. Even a small initial purchase makes them part of the ecosystem, holding Bitcoin in their wallet.

In the long term, Bitcoin’s value is expected to rise, making it not just an introduction to the crypto world but also a way to save and invest for the future.

Addressing concerns

Miguel Angel Reinoso, Growth Manager at the Peruvian investment platform Hapi, pointed out that financial education and volatility are the main barriers to widespread Bitcoin adoption.

He questioned why the cashback is in BTC rather than stablecoins—digital currencies pegged to stable assets like the U.S. dollar. Biskupovich responded that Bitcoin was chosen because it is decentralized and has positive long-term volatility.

Regarding scams like rug pulls, projects with no real utility, and speculative memecoins such as $LIBRA in Argentina, experts emphasize the importance of transparency and a cautious investment approach.

Cashback in BTC

Lemon’s app features a QR payment system, granting access to promotions offered by Visa and Mastercard while rewarding users with satoshis, the smallest unit of Bitcoin.

Currently, the cashback is 10 satoshis or $0,05 (S/0,18). However, with the upcoming launch of a new card, the cashback will be 1% of the purchase if paid in BTC and 0,1% if paid in soles.

Tulkit Pay offers 0.5% cashback for payments in soles and 2% in Bitcoin—equivalent to 107 satoshis or $0.535 (S/1.96).

For context, 1 BTC equals 100 million satoshis, and its price exceeds $97,000. Bitcoin’s total supply is capped at 21 million.

Bitcoin promotions

From August to December 2024, payments made with Tulkit Card at Wong stores on Wednesdays for amounts over S/200 received a S/60 discount plus 2% cashback in BTC.

At Bembos, the Cheese Combo was S/16,90 instead of S/26,80 on weekends. Papa John’s offered a large All the Meats pizza for S/10,90 instead of S/39,90, and the family-size pizza for S/21,90 instead of S/44. Sky provided a 50% refund on all domestic flight tickets on December 14.

Tulkit is extending its Wong store promotion through March, now applicable on Wednesdays, Thursdays, and Fridays at Boulevard Asia and KM40 locations. Additionally, during festive seasons, a random cashback of up to 10% is available.

Results of the promotions

Data shows that young adults aged 18–35 benefited the most, with 245 Bembos promotions used and 1.020 at Papa John’s. Users aged 30–40 made the most use of Wong (728 transactions) and Sky (80 transactions).

Marketing Director at Tulkit Pay, Álvaro Astudillo, noted that the low uptake of some promotions is due to a lack of awareness among Peruvians.

Total savings recorded:

• Wong: S/43.680
• Bembos: S/7.546
• Papa John’s: S/44.880
• Sky: S/4.300

Total transactions amounted to S/109,200 (Wong), S/5,390 (Bembos), S/22,338 (Papa John’s), and S/16.000 (Sky).

Yape and Plin: how interoperability works

In Peru, interoperability allows users to transfer funds from crypto apps to digital wallets like Yape and Plin. For example, scanning a Yape QR code from the Lemon app enables seamless transfers.

To address trust concerns, merchants are encouraged to verify transactions when users pay via the app. Crypto cards bridge the gap between digital and traditional finance, simplifying integration.